Entrepreneurial Southern California Real Estate Developer, Manager, and Broker
Background: Participated with owner in general management of this entrepreneurial residential and commercial real estate company during a period of rapid growth in the 1980s and then turmoil during the real estate recession in the 1990s. The company acquired, developed, and rehabilitated small to mid-market sized office, retail, industrial, residential, and hotel projects using highly leveraged project financings with private equity and institutional partners / participating lenders. In retrospect, the highly leveraged single purpose entrepreneurial real estate development model is basically flawed as it requires some luck to be successful. Pressure to pursue projects is intense, outcomes vary considerably, and avoiding being exposed when downturns start is almost impossible. All exacerbated by margin pressure and high leverage.
Scope: Raised capital, managed accounting and finance function, managed projects, and supervised project managers:
Development Partner with P&L responsibility for specific projects: